New York, September 2021: Axiom Market Research & Consulting™ added a report on carbon black market which includes study on type, application, grade, and geography. The carbon black market was projected to grow at a CAGR of 4.03% for the forecast period 2021 to 2027. The global market is estimated and forecasted in terms of revenue (USD Million) and Volume ('000 Tons) generated by the carbon black market.
The factors like growing application of the carbon black in the plastics and coating industries, along with the rapid growth in the rubber industry, growing demand for the carbon black in the region of Asia Pacific, and increase in the demand for the conductive properties and UV protection in the plastics have been driving the carbon black market during the forecast period. The factors like growing production and sales of automobiles, increasing significance of the carbon black in electric equipment, increasing demand of carbon black for the manufacturing and construction industry and conducting components like semi-conductors and magnetic tapes have been estimated to contribute towards the growth of carbon black market.
The report analyses the global carbon black market based on the type, application, grade, and geography. By type, the carbon black market is segmented into acetylene black, channel black, furnace black, thermal black, and others. By application, the carbon black market is segmented into tire, non-tire rubber, inks and coating, plastic, and others. By grade, the carbon black market is segmented into standard grade and specialty grade. By geography, the carbon black market is studied across the regions including North America, Europe, Asia-Pacific, and Rest of the World.
The furnace black is produced by the incomplete combustion of the liquid and gaseous hydrocarbons like the petroleum distillates or refinery residues, natural gas or a mixture of oil and gas in a retort or closed furnace, and the furnace black has been widely used carbon black, which is owing to the maximum production capacity.
The increasing adoption of the carbon black has a reinforcing filler and the pigment in the automobile tires has been the major driving factors that are attributed to the growth of the segment in the carbon black market. The carbon also helps in keeping the heat away from the belt and the tread area of the tire, which is responsible for increasing the tire life and decrease thermal damage.
An increasing demand for the specialty grade carbon black that has been owing to the properties of carbon black like the ability for absorbing the UV light along with converting it to the heat has been responsible towards the growth of the segment in the carbon black market during the forecast period.
Because of the rapid growth in the ink and coating, automobile, and rubber industry across the Asia Pacific region has been the major factor in the growth of the carbon black market across the Asia Pacific region. The other factors like growing adoption of the automobile vehicles, along with the increase in the tire manufacturing has been estimated to contribute towards the growth of the carbon black market in the Asia Pacific region.
The key players in the carbon black market are Cabot Corporation, Asahi Carbon Co., Ltd, China Synthetic Rubber Corporation, Jiangxi Black Cat Carbon Black Inc., Ltd, Himadri Chemicals & Industries Ltd, Longxing Chemical Stock Co, Ltd, Nippon Steel & Sumikin Chemical Co., Ltd, Mitsubishi Chemical Corporation, OCI Company Ltd, Orion Engineered Carbons S.A, OMSK Carbon Group OOO, Phillips Carbon Black Limited, Shandong Huadong Rubber Materials Co., Ltd, Ralson Goodluck Carbon, Shandong Lion King Carbon Black Co., Ltd, Suzhou Baohua Carbon Black Co., Ltd, SID Richardson Carbon & Energy Co, Thai Carbon Black Public Company Limited (Birla Carbon), and Tokai Carbon Co., Ltd among others.
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